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International Organizations IMF

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    The deal that allowed Greece to renegotiate its debt will not lead to a credit event on the scale of the Lehman Brothers failure that triggered the US financial crisis, the lead negotiator in the talks told CNBC.

  • The former Greek Prime Minister, George Papandreou

    A deal that imposes 50 percent losses on private sector bondholders means Greece's debt burden will be sustainable, Greek Prime Minister George Papandreou said on Thursday.

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    Here’s your quick translation of the news that the International Monetary Fund is “considering” a plan to back a special investment vehicle being proposed as part of the expansion of the European Financial Stability Facility.

  • Greece

    As European leaders ready themselves for another summit on the euro zone crisis, one economist said that the critical situation in Greece should be dealt with by focusing on growth instead of debt.

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    A question that is becoming more pertinent in these straightened economic times is whether it is possible to measure charitable initiatives the way businesses measure their profits.

  • EU building flags brussels

    "We're in a situation, if you were scripting a disaster movie, you really couldn't build the tension better," one analyst told CNBC.

  • Exchanging Dollars and Euros

    The European Central Bank tapped a foreign exchange swap facility with the Federal Reserve earlier this month, borrowing $500 million. In exchange, the ECB puts up collateral of Euros worth slightly more than $500 million. The ECB wants the dollars so it can lend them out to European banks, which have been having trouble borrowing dollars at affordable rates due to fears about their financial health.

  • Demonstrators shout slogans during a protest against plans for new austerity measures on October 19, 2011 in Athens, Greece.

    Greek lawmakers have passed a deeply resented austerity bill that has led to violent protests on the streets of Athens, despite some dissent from one Socialist lawmaker.

  • Greek Labor Unions Strike

    Greece has to approve an austerity plan before the "troika" - the IMF, the European Central Bank, and the European Commission - release aid. Here's how to trade the drama.

  • Protesters throw petrol bombs to riot police as they demonstrate in front of the Greek parliament in Athens on October 19, 2011 as a two-day general strike began against a new austerity bill demanded by Greece's international creditors to avert bankruptcy.

    Demonstrators on Wednesday threw stones and gasoline bombs at police outside parliament during a two-day general strike that unions described as the largest in years.

  • European Austerity Protest: Greece

    Tens of thousands of protesters rallied in front of the Greek parliament on Wednesday and there were isolated outbreaks of violence as a general strike shut down much of the country ahead of a vote on a painful new round of austerity measures.

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    Optimism has been a rare commodity in financial markets in 2011, however, institutional investors don’t have the luxury of being able to place their cash under the bed.

  • Greek Red Cross workers demonstrate in front of the Greek Parliament the Greek Parliament on October 11, 2011. New strikes hit Greece on October 11 as the government finalized talks with its EU-IMF creditors on additional spending cuts to secure payment of a bankruptcy-saving loan. Civil servants blocked the entrance to several ministries, teachers and municipal staff walked out and a key refinery began a protest shutdown ahead of a general strike on October 18.

    Greece has been the butt of jokes throughout the financial crisis, and the implication is always the same: that the Greek people are lazy and don’t like to work.

  • The Parthenon in Greece

    A 100 percent 'haircut' or write off of Greek debt would be needed to reduce Greece's debts to a manageable level, a senior analyst told CNBC Tuesday.

  • Heaped rubbish remains uncollected in Athens, Greece. Bin men have begun a strike with officials warning of a "health time bomb".

    Athenians are tensely bracing themselves for three key events his week in the ongoing tragedy that is the Greek debt crisis.

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    The euro was doomed from its inception and is the reason that Europe is in an appalling mess, an economist told CNBC Monday.

  • John Lipsky

    The risk of European recession still lingers over the continent, but euro zone policymakers are likely to introduce a package this month that's comprehensive enough to head off that scenario, according to an official at the International Monetary Fund.

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    Euro zone leaders are expected to come up with a substantive plan to solve the area’s crippling debt crisis by the time of the G20 leaders summit in Cannes on Nov. 3.  At the back of every investor’s mind is the thought that we could be setting ourselves up for a big fall.

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    The finance chiefs of the world's leading economies opened the door Saturday for the International Monetary Fund to play a bigger role in fighting the eurozone's escalating debt troubles.

  • France Finance minister Francois Baroin (R) poses next to US Finance minister Timothy Geithner (L) eyed by French central bank governor Christian Noyer on October 14, 2011 at the 'Cite de L'Architecture' in Paris, prior to a working dinner, on the first day of the G20 meeting of Finance Ministers and Central Bank Governors.

    While finance ministers and central bankers at the G20 meeting in Paris desperately seek a solution to Europe's debt crisis, a separate debate has broken out over the IMF's role in any rescue package.